First Interstate Bank Sells 73 Shares of Republic Services, Inc. (NYSE:RSG)

First Interstate Bank lowered its stake in Republic Services, Inc. (NYSE:RSG) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,347 shares of the business services provider’s stock after selling 73 shares during the quarter. First Interstate Bank’s holdings in Republic Services were worth $387,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in RSG. FinTrust Capital Advisors LLC increased its stake in Republic Services by 56.3% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after acquiring an additional 71 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Republic Services in the 4th quarter worth approximately $34,000. BKM Wealth Management LLC purchased a new position in shares of Republic Services in the 4th quarter worth approximately $37,000. Bruce G. Allen Investments LLC purchased a new position in shares of Republic Services in the 4th quarter worth approximately $41,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Republic Services in the 1st quarter worth approximately $34,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 0.1 %

Shares of RSG traded up $0.23 during trading hours on Tuesday, hitting $187.47. The company had a trading volume of 1,479,865 shares, compared to its average volume of 1,185,647. The company has a market capitalization of $59.05 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 3.29 and a beta of 0.68. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. Republic Services, Inc. has a one year low of $135.33 and a one year high of $192.57. The company’s fifty day moving average price is $184.72 and its two-hundred day moving average price is $167.88.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.13. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period in the prior year, the company posted $1.13 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts forecast that Republic Services, Inc. will post 6 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, April 1st. Republic Services’s dividend payout ratio is currently 39.12%.

Analyst Ratings Changes

RSG has been the subject of a number of recent research reports. Morgan Stanley cut Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 target price for the company. in a report on Friday, March 15th. BMO Capital Markets boosted their price objective on Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Wells Fargo & Company boosted their price objective on Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Royal Bank of Canada began coverage on Republic Services in a report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price objective for the company. Finally, Truist Financial upped their target price on Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a report on Wednesday, February 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $199.77.

Insider Activity at Republic Services

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the sale, the chief executive officer now owns 85,113 shares in the company, valued at approximately $15,669,303.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

About Republic Services

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.